Online retail sales hit $12.3b

Online sales hit $12.3 billion in Australia in the 12 months to October 2012, according to the NAB Online Retail Sales Index.

However, online sales accounted for just 5.6 per cent of total retail spending.

Online sales increased 26 per cent for the year ended October following a slowdown in sales in the first half of this year.

Domestic retailers led the online buying charge, with NAB reporting a slowdown in international retail sales. Domestic retail purchases comprised three quarters of online sales in the 12 months to October.

Residents in the Australian Capital Territory are the most active in online buying, followed by the Northern Territory and Western Australia.

Online auctions, department store websites, fashion, cosmetics and variety stores make up the bulk of online sales (48 per cent).

Home, furniture, appliances and electronics made up 19 per cent of online retail sales.

“Those aged in their 30s and 40s remain the key demographic for online spending, with the under 30s age group lagging on a per capita basis – although they do record marginally faster growth rates than any other age group,” Alan Oster, group chief economist at NAB, said.

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